Ontario to Proceed on Hydro One Sale

Updated April 26, 2002 12:01 a.m. ET

The Ontario government said it will proceed with the 5.5 billion Canadian dollar (US$3.5 billion) privatization of its Hydro One electric utility despite a court ruling last week that appeared to block it. It will both appeal last week's Superior Court ruling and introduce new legislation to allow the province to sell Hydro One, the Ontario Energy Ministry said. The court had ruled the province lacked the legal framework to sell Hyro...